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Hedge fund Arca says it’s solvent despite blowup rumors

Arca—the digital asset hedge fund led by Wisdom Tree co-founder Ryan Steinberg—is not insolvent, despite rumors tied to its recent bets on Luna.  The firm made headlines on Wednesday for a letter it sent out Tuesday to limited partners in its digital asset hedge fund that outlined how the firm “doubled down” on Luna-powered stablecoin UST. The crypto, which depegged from $1 over the course of the last several days, sent Luna into a tailspin. The price of the crypto …